Rocket Lab USA (NASDAQ:RKLB) Trading Down 2.1% – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares fell 2.1% during trading on Thursday . The company traded as low as $25.89 and last traded at $27.36. 18,702,073 shares traded hands during trading, a decline of 3% from the average session volume of 19,207,133 shares. The stock had previously closed at $27.95.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RKLB. Citigroup upped their price objective on shares of Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, November 18th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. The Goldman Sachs Group increased their price objective on shares of Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Stifel Nicolaus boosted their target price on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, KeyCorp increased their price target on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.44.

Rocket Lab USA Trading Down 2.1 %

The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The firm has a market cap of $13.68 billion, a price-to-earnings ratio of -73.94 and a beta of 1.98. The company has a 50-day moving average price of $22.23 and a 200 day moving average price of $12.33.

Insiders Place Their Bets

In other news, General Counsel Arjun Kampani sold 28,562 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $689,772.30. Following the transaction, the general counsel now directly owns 608,996 shares in the company, valued at $14,707,253.40. The trade was a 4.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Frank Klein sold 35,968 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $868,627.20. Following the sale, the insider now owns 1,464,032 shares of the company’s stock, valued at approximately $35,356,372.80. This represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,114,530 shares of company stock worth $38,168,400. 13.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rocket Lab USA

Several large investors have recently made changes to their positions in the company. Citigroup Inc. raised its position in Rocket Lab USA by 46.8% during the third quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock valued at $6,727,000 after acquiring an additional 220,432 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Rocket Lab USA by 22.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock valued at $28,006,000 after buying an additional 532,207 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Rocket Lab USA by 12.2% in the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after buying an additional 898,223 shares during the last quarter. FORA Capital LLC bought a new stake in shares of Rocket Lab USA during the 3rd quarter worth about $449,000. Finally, National Bank of Canada FI increased its holdings in shares of Rocket Lab USA by 149.2% during the 3rd quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer’s stock valued at $490,000 after acquiring an additional 30,178 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Company Profile

Rocket Lab USA, Inc, a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets.